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SPX 15 Updated View

Posted by steve on 22nd of May 2020 at 04:22 pm

$SPX - Chart Link- got the expected bounce as mapped - NOW let's see how things unfold come Tuesday.  Keep an open mind and trade what's in front of you.  

Robert Miner's Saying:  "Trade don't Forecast" 

Have a nice weekend everyone.  

Posted by steve on 22nd of May 2020 at 04:14 pm

Have a nice weekend everyone.  

Bingo on 2954

Lately we've seen late buying

Posted by steve on 22nd of May 2020 at 03:56 pm

Lately we've seen late buying on Friday afternoons - maybe ES 2954 can be tagged 

Take note - the alarms

FB  GOOGL  AMZN    still short?

Posted by steve on 22nd of May 2020 at 03:08 pm

Take note - the alarms ARE not a trigger they are simply a point of reference and delayed data. 

Trade your plan if shorting those stocks - don't worry about what others are doing.  AMZN and NFLX did not gap down today and thus provided more objective entries.  On FB watch 60 minute for double top or divergent high - if that prompts selling or not into next week.   

SPX 3 with Fibs

Posted by steve on 22nd of May 2020 at 12:48 pm

SPX Mapping

Posted by steve on 22nd of May 2020 at 12:27 pm

$SPX - Chart Link- here is one path that I will be monitoring into next week.  Let's see how the market acts into today's close as well. 

https://stockcharts.com/h-sc/ui?s=%24SPX&p=60&yr=0&mn=2&dy=0&id=t3025368500c&a=584502113&r=1590166555613&cmd=print- larger time frame view 

IOVA Updated View

Posted by steve on 22nd of May 2020 at 12:02 pm

OMI Updated View

Posted by steve on 22nd of May 2020 at 10:16 am

OMI - Chart Link - evening star pattern played out as mentioned last night 

SPX 10 Updated View

Posted by steve on 22nd of May 2020 at 09:36 am

$SPX - Chart Link- bust down on bear flag - now have 5 small waves down on SPX cash 

NQ Globex Range 9241.50-9408 

Posted by steve on 22nd of May 2020 at 08:48 am

NQ Globex Range 9241.50-9408 

Several traders likely out for Holiday Weekend leading to thinner trading and larger gyrations

Got up early today (3:45

Posted by steve on 22nd of May 2020 at 07:54 am

Got up early today (3:45 am) to cover a few hedges (and overnight on ES ) - very volatile Globex Session

ES has bounced back to just above 50% Fib retrace

ES Globex  Range 2903.75-2952.50

Thursday Newsletter

Posted by steve on 21st of May 2020 at 08:00 pm

Not liking labeling a wave

Market commnets

Posted by steve on 21st of May 2020 at 05:04 pm

Not liking labeling a wave d that is above a wave b - instead looks like a 5th wave completion of some degree following that abc (4th wave). Not yet confirmed 

https://stockcharts.com/h-sc/ui?s=%24SPX&p=10&b=5&g=0&id=t9718056861c&a=627027475&r=1590093781060&cmd=print

SPX 2980 likely some degree

Posted by steve on 21st of May 2020 at 04:19 pm

SPX 2980 likely some degree of top - hedging today as a start would add to hedges on reflex move higher and cover on stronger move 

Reminder: Holiday Weekend Upcoming with

Posted by steve on 21st of May 2020 at 03:01 pm

Reminder: Holiday Weekend Upcoming with Markets Closed on Monday for Memorial Day

JO 60 Updated View

Posted by steve on 21st of May 2020 at 02:57 pm

JO - Chart Link - bear flag broke down from Tuesday

That's a reasonable target -

FLMN Updated View

Posted by steve on 21st of May 2020 at 02:16 pm

That's a reasonable target - I simply track the intraday chart action and don't get consumed with targets.  At this stage of the market advance (with divergences showing) I tend to take profits quicker. 

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